Diamond Offshore Announces Results of Offer
Diamond Offshore Drilling, Inc. (NYSE:DO) announced the results of its offer to purchase its Zero Coupon Convertible Debentures due 2020 (the "Securities"). The holders' option to surrender their Securities for purchase expired at 5:00 p.m., New York City time, on June 6, 2005.
Diamond Offshore has been advised by the paying agent, JPMorgan
Chase Bank, N.A., that $774,110,000 in aggregate principal amount at
maturity of the Securities, which represents 96% of the outstanding
Securities, were validly surrendered for purchase and not withdrawn.
Diamond Offshore has purchased all of such Securities. The purchase
price for the Securities was $594.25 per $1,000 principal amount at
maturity. The aggregate purchase price for all of the Securities
validly surrendered for purchase and not withdrawn was
$460,014,867.50, which Diamond Offshore funded with cash on hand.
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